Michael George Rosenbaum Sells 23,379 Shares of Guidewire Software, Inc. (NYSE:GWRE) Stock

Guidewire Software, Inc. (NYSE:GWRE) CEO Michael George Rosenbaum sold 23,379 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $172.16, for a total value of $4,024,928.64. Following the completion of the sale, the chief executive officer now owns 287,662 shares in the company, valued at $49,523,889.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Guidewire Software Trading Up 1.3 %

GWRE opened at $174.62 on Friday. Guidewire Software, Inc. has a 1 year low of $85.15 and a 1 year high of $174.68. The stock has a fifty day moving average price of $149.67 and a 200 day moving average price of $130.98. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of -1,319.23 and a beta of 1.18.

Guidewire Software (NYSE:GWRE) last posted its quarterly earnings results on Thursday, September 5th. The technology company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.54 by $0.08. The firm had revenue of $291.50 million during the quarter, compared to analysts’ expectations of $283.84 million. Guidewire Software had a negative return on equity of 1.32% and a negative net margin of 0.62%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 EPS. As a group, sell-side analysts forecast that Guidewire Software, Inc. will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in Guidewire Software during the 4th quarter worth $97,829,000. Massachusetts Financial Services Co. MA raised its position in Guidewire Software by 23.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,747,349 shares of the technology company’s stock valued at $378,832,000 after purchasing an additional 516,942 shares in the last quarter. Whale Rock Capital Management LLC grew its stake in shares of Guidewire Software by 23.4% during the first quarter. Whale Rock Capital Management LLC now owns 1,270,870 shares of the technology company’s stock worth $148,323,000 after buying an additional 240,622 shares during the last quarter. Teca Partners LP bought a new stake in shares of Guidewire Software during the second quarter worth $25,893,000. Finally, Linonia Partnership LP grew its stake in shares of Guidewire Software by 8.4% in the second quarter. Linonia Partnership LP now owns 2,395,601 shares of the technology company’s stock worth $330,329,000 after purchasing an additional 185,077 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Guidewire Software in a research report on Friday, September 6th. Stifel Nicolaus upped their price objective on Guidewire Software from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, September 6th. DA Davidson restated a “buy” rating and issued a $168.00 price objective on shares of Guidewire Software in a research report on Friday, September 6th. Robert W. Baird increased their target price on Guidewire Software from $152.00 to $165.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 3rd. Finally, Oppenheimer increased their target price on Guidewire Software from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $161.69.

About Guidewire Software

Guidewire Software, Inc provides a platform for property and casualty (P&C) insurers worldwide. The company offers Guidewire InsuranceSuite Cloud, such as PolicyCenter Cloud, BillingCenter Cloud, and ClaimCenter Cloud applications. It also provides Guidewire InsuranceNow, a cloud-based platform that offers policy, billing, and claims management functionality to insurers; and Guidewire InsuranceSuite for Self-Managed.